187 BSE500 stocks offer double-digit returns as markets hit new highs in June

Indian benchmark indices hit fresh highs in the last week of June despite mixed signals from global markets, particularly on inflation concerns. While largecap stocks attracted significant investor attention, the broader market in the mid- and small-cap segments underperformed.

During the month of June, as many as 187 BSE500 stocks posted double digit weekly returns with four offering over 40% returns.

India Cements was the top gainer in the pack with a return of around 44%, followed by Amara Raja Energy (41%), JK Paper (40.5%) and V Mart Retail (40.5%).

Around 11 stocks including Praj Industries, Bombay Burmah, IFB Industries, Bayer CropScience, Mazagon Dock Shipbuilders, Cholamandalam Financials, Whirlpool India have returned between 30-40% during the week.

In the smallcap segment, around 2 stocks GTL Infrastructure and Moschip Technologies have become multibaggers. While GTL Infrastructure is up 118%, Moschip has returned 114% over the past month.

Meanwhile, around 452 stocks in the smallcap segment posted double-digit returns during the reporting month. As many as 42 stocks in the midcap segment rose in double digits.

Among the Sensex pack, around 5 stocks offered double-digit returns, including Ultratech, Tech Mahindra, Mahindra & Mahindra, Infosys and HCL Technologies.

During the month, the IT sector particularly showed a significant recovery with private banks outperforming public sector banks in the banking segment.

What should investors do?

In the coming week, investors will closely monitor domestic CPI data for July, which is expected to rise significantly due to rising food prices.

Next week, the focus will be on US and Indian manufacturing PMI data and the Fed Chair’s speech.

“The market undercurrent is positive, with no major short-term risks seen for the domestic market. All eyes will be on the Union Budget proposals which will dictate the market in the medium term,” Vinod Nair said. Geojit Financial Services.

“We expect this positive momentum to continue at a steady pace with stock-specific action. However, the release of economic data points next week will keep some volatility in the market. Sectors like auto are expected to remain in the spotlight as OEMs announce their monthly auto sales numbers. Do,” said Siddharth Khemka, senior group VP, head of research, broking and distribution at Motilal Oswal Financial.

After a bullish move, technically Nifty is currently facing hurdles at 24000-24100 level resistance.

“Any dip from here could be a buying opportunity. Immediate support is at 23800 level,” said HDFC Securities’ Nagaraj Shetty.

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)